Global Fiberboard Market Inclinations Exhibit Growing Demand During the Period Until 2028
Sustainability attributes of fiberboard fall perfectly in line with the growing environment consciousness among industrialists and consumers alike. This has further bolstered adoption of fiberboard in applications that include interior flooring and paneling. Rising requirement for deforestation, to cater demand from solid wood applications, will provide the fiberboard market an edge, concerning the environmental impacts.
The revenue growth of the global fiberboard market is estimated to exceed over 6% during the forecast period of 2018-2028. Fiberboard is expected to witness growth due to rising preference over the other alternatives such as solid wood and cheap plywood used in many emerging countries. Its high resistance to change in heat and humidity levels and potential to remain crack or expansion and contraction proof during climate change, adding to its durability is one of the major reasons for which the emerging regions are opting for fiberboard.
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Since the dawn of rampant urbanization, building and construction industry is gaining significant attention, primarily in regions of APAC witnessing drastic growth. The key factor responsible for this overwhelming call is the burgeoning rise in number of single person households. The mushrooming number of new household and construction projects is also likely to pose as a predominant factor pushing growth of fiberboard market. In case of countries like India and China, which are witnessing rapid urbanization, this demand is foreseen to be highly prominent. The region of MEA, primarily Africa, is poised to record meteoric growth in the fiberboard market during the assessment period. Roofing applications and renovations with regard to flooring & paneling are expected to complement the growth ambit of fiberboard market.
The Sustainability Revolution to Pave New Avenues for Fiberboard
One of the preeminent factors accentuating growth of global fiberboard market is its sustainable roots. Maximum of the medium density fiberboard (MDF) available in the market has been synthesizes using recycled wood, unlike the solid wood adversary which doesn’t adhere much to sustainability. This sustainable-driven aspect makes it an ideal choice among the environment-savvy customers. A major fraction of customers hailing from different parts of the world are concerned about the adverse effects resulting from violence of sustainability, which makes them stand out as a prominent customer base with regard to medium density fiberboard. Activities such as interior paneling and flooring for enhancing appeal of households seek for environment friendly options, thereby propelling the growth of fiberboard market. Massive number of trees being sliced off for solid wood applications makes fiberboard market gain an edge, as far as influence on environment is concerned.
The medium density fiberboard/ high density fiberboard (MDF/HDF) segment is foreseen to retain its leading position in the market. Gaining huge traction due to its superior performance in altering temperature and moisture gradients, MDF/HDF is being increasingly sought by building and construction companies. It is foreseen to manifest an impressive growth rate during the forecast timeline. For any company vying to capture a wider customer base, it is highly recommended to focus on developing product capacity of their respective MDF lines.
Market taxonomy of fiberboard market has been entailed by segregating it into segments such as board type, medium/ high density fiberboard, and others. Fiberboards are witnessing extensive use across application areas such as roofing, sound proofing, exterior sheathing, flooring, and others. This holistic research report traces progression of fiberboard market across regions of North America, Latin America, Europe, CIS & Russia, MEA, APEJ, and Japan. Along with market value and volume anticipations, the report also comprises of regional trends governing market of the respective region. Moreover, prime opportunities shining across various regions are also appended in order to give an idea of how the market is predicted to develop in the foreseeable future.
Competitive Landscape-
In the competitive landscape, the report enlists names of key market players who are well-established in the market. Along with the list of names, this section also embodies victorious strategies executed by them to attain stronghold in the market. Some of the key players featured in the report include Kronospan, Norbord Inc., FINSA, Evergreen Fiberboard, and Kastamonu Entegre.
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The research methodology adopted is a meticulous combination of primary and secondary research. Primary research incorporates interaction with key industry personnel via telephonic conversations, in-person interviews, face-to-face interviews, and email interactions. Secondary research refers to a phase in which data assimilation is done with the help of repositories such as company websites, resourceful documents, annual reports, publications, and many more. The final data procured is again subjected to cross-validation to offer cutting-edge insights for the users to outperform their business goals.